Basswood Capital Management, L Sells 14,019 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $39.29, for a total transaction of $550,806.51. Following the sale, the director directly owned 7,040 shares in the company, valued at approximately $276,601.60. This trade represents a 66.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Basswood Capital Management, L also recently made the following trade(s):

• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.08, for a total transaction of $636,069.60.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Trading Down 1.7%

Shares of DCOM opened at $38.74 on Thursday. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $40.76. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $36.96 and its two-hundred day moving average is $33.95. The stock has a market cap of $1.71 billion, a PE ratio of 16.42 and a beta of 1.00.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. Dime Community Bancshares’s payout ratio is presently 37.59%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DCOM shares. Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. DA Davidson boosted their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Piper Sandler started coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Institutional Trading of Dime Community Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of DCOM. Royal Bank of Canada raised its holdings in Dime Community Bancshares by 15.7% in the 1st quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company’s stock valued at $645,000 after buying an additional 3,135 shares during the period. AQR Capital Management LLC increased its stake in Dime Community Bancshares by 132.3% during the first quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock worth $4,726,000 after purchasing an additional 96,523 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Dime Community Bancshares by 17.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company’s stock worth $659,000 after purchasing an additional 3,443 shares during the period. Goldman Sachs Group Inc. increased its stake in Dime Community Bancshares by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company’s stock worth $9,060,000 after purchasing an additional 18,195 shares during the period. Finally, Empowered Funds LLC increased its stake in Dime Community Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock worth $2,289,000 after purchasing an additional 4,231 shares during the period. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.